ZAGREB, Jan 10 (Hina) - Croatian companies invested US$96.48 million abroad from January through September 2002 and a total of $658.08 million from 1993 through September 2002, according to central bank data released on
Friday.
ZAGREB, Jan 10 (Hina) - Croatian companies invested US$96.48
million abroad from January through September 2002 and a total of
$658.08 million from 1993 through September 2002, according to
central bank data released on Friday. #L#
Croatian companies' ownership investments abroad in last year's
first nine months amounted to $76.2 million, or to $588.49 million
from 1993 through September 2002.
Last year's first three quarters saw Croatian companies invest the
most in Slovenia -- 28.57% of all direct investments. In that period
35.64% of all direct ownership investments was invested in
cellulose production, which leads to the conclusion that the
majority was made by the Belisce paper and packing manufacturer,
which purchased Slovenia's Valkarton in the first half of last
year.
However, the majority of direct ownership investments in last
year's first nine months was directed in the production of
pharmaceuticals -- 40.97%. Cellulose production was second,
followed by investments in maritime and coastal transport (14.97%)
and holding company management (5.06%).
Besides Slovenia, Croatian companies invested in the Netherlands
(24.7%), Bosnia-Herzegovina (17.37%), Switzerland (13.91%), and
Liberia (10.47%).
Central bank data on foreign investments in the period between 1993
and the end of September last year indicates the main destination of
Croatia's direct investments was Poland, which attracted 31.55% of
all investments. Some of Croatia's biggest companies, like the
Pliva drugs company and the Podravka food manufacturer, have opened
their branches or set up new companies there.
Bosnia was next (26.58%), followed by the Netherlands (11.5%),
Slovenia (11.45%), Switzerland (4.1%), the Marshall Islands
(3.81%), Macedonia (3.29%), Austria (3.02%), Antigua and Barbuda
(three percent), and Panama (2.55%).
Broken down by activity, the majority of ownership investments by
Croatian companies between 1993 through September 2002 was made in
pharmaceuticals (43.69%) and maritime and coastal transport
(13.11%). Telecommunications are next with 6.69%, monetary
brokerage with 4.67% and cellulose production with 4.61%.
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